Vertex Pharmaceuticals (NASDAQ:VRTX) Hits New 12-Month Low - What's Next?

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Get Free Report) hit a new 52-week low during trading on Thursday . The stock traded as low as $377.85 and last traded at $396.87, with a volume of 2044282 shares trading hands. The stock had previously closed at $447.50.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Raymond James reissued a "market perform" rating on shares of Vertex Pharmaceuticals in a research note on Thursday, October 10th. Royal Bank of Canada boosted their price target on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a "sector perform" rating in a report on Tuesday, November 5th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, November 5th. UBS Group boosted their target price on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group raised Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and raised their target price for the stock from $500.00 to $550.00 in a research report on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $505.00.

Vertex Pharmaceuticals Price Performance

The stock has a 50 day moving average of $472.10 and a two-hundred day moving average of $475.81. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. The firm has a market capitalization of $102.15 billion, a P/E ratio of -199.32 and a beta of 0.36.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, beating analysts' consensus estimates of $3.61 by $0.77. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The company's quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.67 earnings per share. Sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post -1.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vertex Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. Northwest Investment Counselors LLC bought a new stake in Vertex Pharmaceuticals during the 3rd quarter valued at approximately $25,000. Highline Wealth Partners LLC bought a new stake in shares of Vertex Pharmaceuticals in the third quarter valued at approximately $27,000. Dunhill Financial LLC grew its stake in shares of Vertex Pharmaceuticals by 70.6% in the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company's stock worth $27,000 after acquiring an additional 24 shares during the last quarter. GHP Investment Advisors Inc. bought a new position in Vertex Pharmaceuticals during the second quarter worth $29,000. Finally, Stephens Consulting LLC acquired a new position in Vertex Pharmaceuticals during the 2nd quarter valued at $31,000. 90.96% of the stock is currently owned by institutional investors.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.